Matches in SemOpenAlex for { <https://semopenalex.org/work/W3123370003> ?p ?o ?g. }
Showing items 1 to 75 of
75
with 100 items per page.
- W3123370003 abstract "I consider a real-business cycle, DSGE model where consumption is a function of the present discounted value of wage and capital income. The agent is uncertain if these income variables are stationary or non-stationary and puts positive probability on both representations. The agent uses Bayesian learning to update his probability weights on each model and these weights vary over time according to how well each model ts the data. The model exhibits an improved t to the data relative to the rational expectations benchmark. The model requires half the level of exogenous shocks to match the volatility of output and still matches the relative volatilities of key business cycle variables. The model lowers the contemporaneous correlation of consumption and wages with output and generates positive autocorrelation in model growth rates. Impulse responses exhibit persistent responses and consistent with survey evidence forecast errors are positively serially correlated. Finally, in contrast to the existing literature, the model endogenously generates observed time varying volatility and long run predictability of business cycle variables, especially for investment." @default.
- W3123370003 created "2021-02-01" @default.
- W3123370003 creator A5003092093 @default.
- W3123370003 date "2016-01-01" @default.
- W3123370003 modified "2023-09-27" @default.
- W3123370003 title "The Business Cycles Implications of Fluctuating Long Run Expectations" @default.
- W3123370003 hasPublicationYear "2016" @default.
- W3123370003 type Work @default.
- W3123370003 sameAs 3123370003 @default.
- W3123370003 citedByCount "0" @default.
- W3123370003 crossrefType "posted-content" @default.
- W3123370003 hasAuthorship W3123370003A5003092093 @default.
- W3123370003 hasConcept C105795698 @default.
- W3123370003 hasConcept C107673813 @default.
- W3123370003 hasConcept C134306372 @default.
- W3123370003 hasConcept C139719470 @default.
- W3123370003 hasConcept C144024400 @default.
- W3123370003 hasConcept C149782125 @default.
- W3123370003 hasConcept C162324750 @default.
- W3123370003 hasConcept C197640229 @default.
- W3123370003 hasConcept C2777388388 @default.
- W3123370003 hasConcept C30772137 @default.
- W3123370003 hasConcept C33923547 @default.
- W3123370003 hasConcept C34447519 @default.
- W3123370003 hasConcept C36289849 @default.
- W3123370003 hasConcept C5297727 @default.
- W3123370003 hasConcept C72279823 @default.
- W3123370003 hasConcept C83873408 @default.
- W3123370003 hasConcept C91602232 @default.
- W3123370003 hasConcept C96016098 @default.
- W3123370003 hasConceptScore W3123370003C105795698 @default.
- W3123370003 hasConceptScore W3123370003C107673813 @default.
- W3123370003 hasConceptScore W3123370003C134306372 @default.
- W3123370003 hasConceptScore W3123370003C139719470 @default.
- W3123370003 hasConceptScore W3123370003C144024400 @default.
- W3123370003 hasConceptScore W3123370003C149782125 @default.
- W3123370003 hasConceptScore W3123370003C162324750 @default.
- W3123370003 hasConceptScore W3123370003C197640229 @default.
- W3123370003 hasConceptScore W3123370003C2777388388 @default.
- W3123370003 hasConceptScore W3123370003C30772137 @default.
- W3123370003 hasConceptScore W3123370003C33923547 @default.
- W3123370003 hasConceptScore W3123370003C34447519 @default.
- W3123370003 hasConceptScore W3123370003C36289849 @default.
- W3123370003 hasConceptScore W3123370003C5297727 @default.
- W3123370003 hasConceptScore W3123370003C72279823 @default.
- W3123370003 hasConceptScore W3123370003C83873408 @default.
- W3123370003 hasConceptScore W3123370003C91602232 @default.
- W3123370003 hasConceptScore W3123370003C96016098 @default.
- W3123370003 hasLocation W31233700031 @default.
- W3123370003 hasOpenAccess W3123370003 @default.
- W3123370003 hasPrimaryLocation W31233700031 @default.
- W3123370003 hasRelatedWork W1503149596 @default.
- W3123370003 hasRelatedWork W1505139953 @default.
- W3123370003 hasRelatedWork W1533973594 @default.
- W3123370003 hasRelatedWork W1534006095 @default.
- W3123370003 hasRelatedWork W1552318785 @default.
- W3123370003 hasRelatedWork W1584608359 @default.
- W3123370003 hasRelatedWork W1994068112 @default.
- W3123370003 hasRelatedWork W2039052169 @default.
- W3123370003 hasRelatedWork W2186910656 @default.
- W3123370003 hasRelatedWork W2267366498 @default.
- W3123370003 hasRelatedWork W2299599209 @default.
- W3123370003 hasRelatedWork W2533024826 @default.
- W3123370003 hasRelatedWork W2577432499 @default.
- W3123370003 hasRelatedWork W3121735270 @default.
- W3123370003 hasRelatedWork W3121786543 @default.
- W3123370003 hasRelatedWork W3123859364 @default.
- W3123370003 hasRelatedWork W3124024926 @default.
- W3123370003 hasRelatedWork W3124672091 @default.
- W3123370003 hasRelatedWork W3124687711 @default.
- W3123370003 hasRelatedWork W3125745878 @default.
- W3123370003 isParatext "false" @default.
- W3123370003 isRetracted "false" @default.
- W3123370003 magId "3123370003" @default.
- W3123370003 workType "article" @default.